10-Q Filing

ODYSSEY MARINE EXPLORATION INC CIK: 798528 Q1 2013

Filing Information

Form Type	10-Q
Accession Number	`0001193125-13-214135`
Period End Date	20130331
Filing Date	20130510
Fiscal Year	2013
Fiscal Period	Q1
XBRL Instance	omex-20130331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 84 Income Statement 40 Cash Flow Statement 62

Balance Sheet 84 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	9.36M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	9.36M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.10M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.97M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.08M	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$276.91K	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalentsAtCarryingValue`	$231.03K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$2.10M	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$477.41K	USD	Point-in-time
Inventory	`InventoryNet`	$418.93K	USD	Point-in-time
Inventory	`InventoryNet`	$308.08K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	150.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	78.60M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$798.40K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	75.42M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$874.12K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.77M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$12.86M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	78.60M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	75.42M	shares	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$19.18M	USD	Point-in-time
Equipment and office fixtures	`FixturesAndEquipmentGross`	$16.78M	USD	Point-in-time
Building and land	`BuildingAndLand`	$4.71M	USD	Point-in-time
Building and land	`BuildingAndLand`	$4.71M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$15.49M	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$15.04M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$8.40M	USD	Point-in-time
Total property and equipment	`PropertyPlantAndEquipmentNet`	$6.45M	USD	Point-in-time
Inventory	`InventoryNoncurrent`	$5.57M	USD	Point-in-time
Inventory	`InventoryNoncurrent`	$5.44M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.10M	USD	Point-in-time
Other non-current assets	`OtherAssetsNoncurrent`	$1.27M	USD	Point-in-time
Total other assets	`OtherAssets`	$6.71M	USD	Point-in-time
Total other assets	`OtherAssets`	$6.68M	USD	Point-in-time
Total assets	`Assets`	$26.90M	USD	Point-in-time
Total assets	`Assets`	$27.97M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$2.20M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$1.95M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$14.05M	USD	Point-in-time
Accrued expenses and other	`AccruedLiabilitiesCurrent`	$3.09M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.84M	USD	Point-in-time
Deferred revenue	`DeferredRevenueCurrent`	$2.84M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$6.02M	USD	Point-in-time
Derivative liabilities	`DerivativeLiabilitiesCurrent`	$5.36M	USD	Point-in-time
Mortgage and loans payable	`MortgageAndLoansPayableCurrent`	$14.81M	USD	Point-in-time
Mortgage and loans payable	`MortgageAndLoansPayableCurrent`	$14.25M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$39.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$28.39M	USD	Point-in-time
Mortgage and loans payable	`MortgageAndLoansPayableNonCurrent`	$4.01M	USD	Point-in-time
Mortgage and loans payable	`MortgageAndLoansPayableNonCurrent`	$2.02M	USD	Point-in-time
Deferred income from revenue participation rights	`DeferredRevenueNoncurrent`	$4.64M	USD	Point-in-time
Deferred income from revenue participation rights	`DeferredRevenueNoncurrent`	$4.64M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$6.66M	USD	Point-in-time
Total long-term liabilities	`LiabilitiesNoncurrent`	$8.65M	USD	Point-in-time
Total liabilities	`Liabilities`	$47.66M	USD	Point-in-time
Total liabilities	`Liabilities`	$35.06M	USD	Point-in-time
Commitments and contingencies (Note G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note G)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Redeemable Series G Convertible Preferred stock	`TemporaryEquityCarryingAmountAttributableToParent`	-	USD	Point-in-time
Redeemable Series G Convertible Preferred stock	`TemporaryEquityCarryingAmountAttributableToParent`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock	`PreferredStockValue`	-	USD	Point-in-time
Common stock - $.0001 par value; 150,000,000 shares authorized; 78,596,929 and 75,416,203 issued and outstanding, respectively	`CommonStockValue`	$7.54K	USD	Point-in-time
Common stock - $.0001 par value; 150,000,000 shares authorized; 78,596,929 and 75,416,203 issued and outstanding, respectively	`CommonStockValue`	$7.86K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$144.45M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$167.78M	USD	Point-in-time
Comprehensive income (loss) attributable to non-controlling interest	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$43.27K	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-174.88M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-165.21M	USD	Point-in-time
Total stockholders' deficit before non-controlling interest	`StockholdersEquity`	$-20.76M	USD	Point-in-time
Total stockholders' deficit before non-controlling interest	`StockholdersEquity`	$-7.04M	USD	Point-in-time
Non-controlling interest	`MinorityInterest`	$-43.27K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-20.76M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest`	$-7.09M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$26.90M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$27.97M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Artifact sales and other	`SalesRevenueGoodsNet`	$803.07K	USD	1 Quarter
Artifact sales and other	`SalesRevenueGoodsNet`	$54.15K	USD	1 Quarter
Exhibit	`ExhibitRevenue`	$60.00K	USD	1 Quarter
Exhibit	`ExhibitRevenue`	$25.00K	USD	1 Quarter
Expedition	`ExpeditionCharterRevenue`	$2.82M	USD	1 Quarter
Total revenue	`Revenues`	$863.07K	USD	1 Quarter
Total revenue	`Revenues`	$2.90M	USD	1 Quarter
Cost of sales - artifacts and other	`CostOfGoodsSold`	$34.19K	USD	1 Quarter
Cost of sales - artifacts and other	`CostOfGoodsSold`	$145.70K	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.79M	USD	1 Quarter
Marketing, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.36M	USD	1 Quarter
Operations and research	`OperationsAndResearch`	$5.73M	USD	1 Quarter
Operations and research	`OperationsAndResearch`	$5.15M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$7.54M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$8.67M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-4.64M	USD	1 Quarter
INCOME (LOSS) FROM OPERATIONS	`OperatingIncomeLoss`	$-7.81M	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$22.44K	USD	1 Quarter
Interest income	`InvestmentIncomeNonoperating`	$2.70K	USD	1 Quarter
Interest expense	`InterestExpense`	$1.07M	USD	1 Quarter
Interest expense	`InterestExpense`	$985.33K	USD	1 Quarter
Change in derivative liabilities fair value	`GainOnDerivativeInstrumentsPretax`	$123.07K	USD	1 Quarter
Change in derivative liabilities fair value	`GainOnDerivativeInstrumentsPretax`	$-662.41K	USD	1 Quarter
Other	`OtherNonoperatingIncome`	$1.08K	USD	1 Quarter
Other	`OtherNonoperatingIncome`	$23.31K	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-1.71M	USD	1 Quarter
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$-838.74K	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-5.48M	USD	1 Quarter
INCOME (LOSS) BEFORE INCOME TAXES	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-9.51M	USD	1 Quarter
Income tax benefit (provision)	`IncomeTaxExpenseBenefit`	$150.74K	USD	1 Quarter
NET INCOME (LOSS) BEFORE NON-CONTROLLING INTEREST	`NetIncomeLoss`	$-5.48M	USD	1 Quarter
NET INCOME (LOSS) BEFORE NON-CONTROLLING INTEREST	`NetIncomeLoss`	$-9.67M	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
Non-controlling interest	`NetIncomeLossAttributableToNoncontrollingInterest`	-	USD	1 Quarter
NET INCOME (LOSS)	`ProfitLoss`	$-5.48M	USD	1 Quarter
NET INCOME (LOSS)	`ProfitLoss`	$-9.67M	USD	1 Quarter
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.12	USD	1 Quarter
Basic and diluted (See NOTE B)	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	73.17M	shares	1 Quarter
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	77.34M	shares	1 Quarter

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-5.48M	USD	1 Quarter
Net loss	`ProfitLoss`	$-9.67M	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$453.73K	USD	1 Quarter
Depreciation and amortization	`Depreciation`	$396.40K	USD	1 Quarter
Investment in consolidated entity	`InvestmentInConsolidatedEntity`	$-301.09K	USD	1 Quarter
Loan fee amortization	`AmortizationOfFinancingCosts`	$69.30K	USD	1 Quarter
Loan fee amortization	`AmortizationOfFinancingCosts`	$32.79K	USD	1 Quarter
Change in derivatives liabilities fair value	`GainOnDerivativeInstrumentsPretax`	$123.07K	USD	1 Quarter
Change in derivatives liabilities fair value	`GainOnDerivativeInstrumentsPretax`	$-662.41K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$676.57K	USD	1 Quarter
Note payable interest accretion	`IncreaseDecreaseInInterestPayableNet`	$620.04K	USD	1 Quarter
Accounts receivable reserve	`ProvisionForDoubtfulAccounts`	$-1.57M	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$688.58K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$388.42K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-45.88K	USD	1 Quarter
Restricted cash	`IncreaseDecreaseInRestrictedCash`	$-47.40K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-1.52M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-563.24K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-245.31K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-34.19K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$499.62K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$46.69K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$238.86K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$955.48K	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$-10.70M	USD	1 Quarter
Accrued expenses and other	`IncreaseDecreaseInAccruedLiabilities`	$113.54K	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-4.47M	USD	1 Quarter
NET CASH (USED) BY OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-16.17M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.37M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$336.27K	USD	1 Quarter
NET CASH (USED) BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-2.37M	USD	1 Quarter
NET CASH (USED) BY INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-336.27K	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$4.66M	USD	1 Quarter
Proceeds from issuance of common stock	`ProceedsFromIssuanceOfCommonStock`	$38.10K	USD	1 Quarter
Proceeds from sale of subsidiary stock	`ProceedsFromSaleOfSubsidiaryStock`	$15.00M	USD	Point-in-time
Proceeds from sale of subsidiary stock	`ProceedsFromSaleOfSubsidiaryStock`	$15.00M	USD	1 Quarter
Proceeds from issuance loan payable	`ProceedsFromIssuanceOfLongTermDebt`	$2.00M	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentOfMortgageAndLoansPayable`	$130.95K	USD	1 Quarter
Repayment of mortgage and loans payable	`RepaymentOfMortgageAndLoansPayable`	$167.87K	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$19.49M	USD	1 Quarter
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$1.91M	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$951.54K	USD	1 Quarter
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.90M	USD	1 Quarter
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.10M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$7.97M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
CASH AT BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.08M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$10.10M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$7.97M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$11.05M	USD	Point-in-time
CASH AT END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$5.08M	USD	Point-in-time
Interest paid	`InterestPaid`	$106.94K	USD	1 Quarter
Interest paid	`InterestPaid`	$279.22K	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Income taxes paid	`IncomeTaxesPaid`	-	USD	1 Quarter
Accrued compensation paid by equity instruments	`PriorPeriodAccruedCompensationPaidByEquityInstruments`	$165.75K	USD	1 Quarter
Accrued compensation paid by equity instruments	`PriorPeriodAccruedCompensationPaidByEquityInstruments`	$347.53K	USD	1 Quarter
Equipment purchased with financing	`CapitalExpendituresIncurredButNotYetPaid`	$27.20K	USD	1 Quarter
Equipment purchased with financing	`CapitalExpendituresIncurredButNotYetPaid`	$27.88K	USD	1 Quarter
Debt repayment with common shares	`DebtConversionConvertedInstrumentAmount1`	$2.50M	USD	Annual
Debt repayment with common shares	`DebtConversionConvertedInstrumentAmount1`	$3.13M	USD	1 Quarter
Series G Preferred Stock dividend declaration	`SeriesGPreferredStockDividendDeclaration`	$10.00K	USD	1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.